Company Investment: King Mu And Kitsune Signed An Agreement To Invest 76 Million 500 Thousand Investment.

In February 18th, the nine herd king Limited by Share Ltd (hereinafter referred to as "nine herd king") announced that it invested 76 million 500 thousand yuan to invest in fox (China) Co., Ltd. (hereinafter referred to as "joint venture", with the specific name approved by the industry and Commerce Department).

According to the announcement, in February 15th, nine Mu Wang and Kitsune France (hereinafter referred to as "Kitsune") signed the "shareholder cooperation agreement" (hereinafter referred to as the "agreement"), to jointly invest in the establishment of a joint venture -- fox (China) Limited (the specific name is approved by the industry and Commerce Department).

Nine Mu Wang and Kitsune (hereinafter referred to as the "two sides") intend to give full play to their own advantages and jointly invest in the establishment of a joint venture company.

In mainland China, Hongkong and Macao (hereinafter referred to as the "business area"), we carry out the business of "Maison Kitsun" brand and "Kitsun" brand clothing, accessories, bags, cosmetics and perfume products.

Nine Mu Wang intends to invest 76 million 500 thousand yuan in cash and hold 50% stake in the joint venture company.

Kitsune 2 shall be invested in the ownership of trademarks within the operating area including, but not limited to, clothing, accessories, bags, coffee, perfume and cosmetics, and shall have a 50% stake in the joint venture company.

According to public information, Kitsune France was founded in Paris, France, and its business nature is Soci e t e par actions simplifi e e (SAS), with a registered address of 52 Rue de Richelieu, 75001 *, *.

The legal representative is Loaec Gildas, whose registered capital is 289604 euros, and its main business is clothing sales.

Kitsun e brand was founded in 2002 in Paris, France.

It contains three main series: seasonal Maison Kitsun e, classic Paris style Maison Kitsun e Parisien, and ACIDE ACIDE Kitsun Kitsun of neutral art design.

The Maison Kitsun brand has 17 separate stores in France, Japan, the United States, Korea and Hongkong, China.

At the same time, in London, Copenhagen, Losangeles, Sydney, Tokyo, Hongkong and other cities more than 400 retail outlets, as well as Endclothing, Matches Fashion and Ssense and other electronic business platform are available for sale.

As of March 31, 2018, the total assets of Kitsune France amounted to 14 million 447 thousand and 800 euros, with a net asset value of 4 million 680 thousand and 200 euros, and operating income of 18 million 312 thousand and 700 euros in the last financial year ending March 31, 2018, with net profit of 953 thousand and 500 euros.

According to the new earnings report of the nine Mu Wang, in the first half of 2018, the nine Mu Wang, nine Mu Wang, achieved business income of 1 billion 260 million yuan, an increase of 10.7% over the same period last year, operating profit of 330 million yuan, an increase of 18% over the same period last year, and a total profit of 330 million yuan, representing a 18.5% increase over the same period last year.

Net profit attributable to shareholders of listed companies was 260 million yuan, an increase of 17.1% over the same period last year. Net profit after deducting non recurring gains and losses was 250 million yuan, an increase of 13.4% over the same period last year.

Notice shows that the new investment of fox (China) Limited (the specific name is approved by industry and Commerce) is the legal representative of Lin Congying.

Business scope mainly includes clothing, shoes and hats, garment accessories, fiber products, knitted textiles, leather bags, cosmetics, daily general merchandise wholesale and retail, import and export, and provide related supporting services.

King Mu also pointed out that the main purpose of establishing a joint venture is to carry out the business activities of "Maison Kitsun" brand and "Kitsun e" brand clothing, accessories, bags, perfume and cosmetics in mainland China, Hongkong and Macao.